Banking on rising house prices

Houses in the best areas or London are changing hands for record sums as the shortage of supply of million plus London homes continues. Many bankers are using their recent bonuses to invest in family homes in areas like, Chelsea and Fulham. The data reflects exchange prices rather than asking prices which obviously gives a far more accurate picture of what is actually happening at the top end of the London sales market. The market in 500,000 plus houses is also said to be buoyant with this bracket enjoying far greater gains in capital values than the average house price.
Many who believe in the ripple affect follow closely what the top end London market, auction results, and the UK house price futures market are achieving as a good indicator of the future of UK house prices. The only question that remains are if these price increases are a reflection of the activity of bankers, is have the bankers got it right this time?